Aying For Igher Ducation: Advanced Level

Page
| 1
2.3.5

PAYING FOR HIGHER EDUCATION
Advanced Level

www.takechargetoday.arizona.edu

EACH LESSON PLAN IS DESIGNED AND CONTINUALLY
RECOMMENDED GRADE EVALUATED “BY EDUCATORS, FOR EDUCATORS.” THANK YOU
AVERAGE TIME TO COMPLETE
LEVELS TO THE FOLLOWING EDUCATORS FOR DEVELOPING
COMPONENTS OF THIS LESSON PLAN.
Anticipatory Set & Facilitation:  National Master Educator Team
115‐145 minutes
10‐12 Conclusion/Assessment Options:
30‐60 minutes
Time does not include optional items.

NATIONAL STANDARDS LESSON PLAN OBJECTIVES
The curriculum is aligned to the following national Upon completion of this lesson, participants will be able to:
standards:  Calculate the approximate cost of higher education
 National Standards for Financial Literacy necessary for a specific career
 American Association of Family and Consumer  Compare funding sources (federal, state, college and
Sciences private) to pay for higher education
 Council for Economic Education  Evaluate FAFSA requirements
 National Business Education  Identify resources available to assist during the FAFSA
 National Jump$tart Coalition application process
 Common Core English Language Arts  Recognize loan repayment requirements

MATERIALS
MATERIALS PROVIDED MATERIALS SPECIFIC TO THIS LESSON PLAN MATERIALS TO ACQUIRE SEPARATELY
IN THIS LESSON PLAN BUT AVAILABLE AS A SEPARATE DEPENDING ON OPTIONS TAUGHT
DOWNLOAD
 Paying for Higher Education Scavenger  Paying for Higher Education  Highlighters
Hunt 2.3.5.A1 PowerPoint presentation  Internet access
 Imani’s Potential Scholarships 2.3.5.A3 2.3.5.G1
 Imani’s FAFSA Forecaster 2.3.5.A4  Paying for Higher Education
 Paying for Higher Education Answer Key 2.3.5.C1
Reinforcement Sheet 2.3.5.A5  The FAFSA Dissected 2.3.5.F2
 Online FAFSA Resources: Group Sharing  Earning Unit Multiple Choice
2.3.5.A6 Test Bank and Answer Key
 My Scholarship Search 2.3.5.A7 2.3.0.M1 & C1
 Paying for Higher Education Self
Reflection 2.3.5.A8
 Spread the Word PSA Planning Guide
2.3.6.A9
 Spread the Word PSA Rubric 2.3.5.B1
 FAFSA Recipe for Success Rubric 2.3.5.B2
 Paying for Higher Education Vocabulary
List 2.3.5.E1
© Take Charge Today – October 2017 – Paying for Higher Education Material List Continued on Page 2
Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at The University of Arizona
Page | 2
2.3.5
 Paying for Higher Education Information
Sheet 2.3.5.F1
 Scholarship Website Search Group Cards
2.3.5.H1
 Paying for Higher Education Note Taking
Guide 2.3.5.L1

RESOURCES
EXTERNAL RESOURCES
External resources referenced in this lesson plan:
 Getting to Know FAFSA Kahoot: https://play.kahoot.it/#/k/5f134379‐c280‐4ece‐9039‐677ccf27ea0e
 Consumer Financial Protection Bureau: www.consumerfinance.gov
 Free Application for Federal Student Aid (FAFSA): www.FAFSA.ed.gov
 Federal Student Aid Resources: http://studentaid.ed.gov/resources
o FAFSA on the Web: http://studentaid.ed.gov/resources
o Federal Student Aid ID Web Site: fsaid.ed.gov
o FAFSA4caster: https://FAFSA4caster.ed.gov
o Sample FAFSA Form: http://studentaid.ed.gov/resources
o Eligibility Criteria infographic: http://studentaid.ed.gov/eligibility
o Why Go to College infographic: http://studentaid.ed.gov/prepare‐for‐college
o Financial Aid process infographic: http://studentaid.ed.gov/sites/default/files/financial‐aid‐
process.png
o Compare Federal loan repayment options: http://studentaid.ed.gov/repay‐loans/understand/plans
o Reasons Why Students Do Not File the FAFSA:
http://www.finaid.org/educators/20110118nofafsareasons.pdf
 Federal Trade Commission: www.consumer.ftc.gov/articles/0082‐scholarship‐and‐financial‐aid‐scams
 Sample Public Service Announcements:
o Chart Squad’s 4+ minute rap video, “FAFSA Hooray,” on YouTube
www.youtube.com/watch?v=e2d7IfFgxTs
o KnowHow2Go: www.knowhow2go.org/main_psa.php
 General resources:
o MDgo4it, “Pay for College: Applying for Financial Aid”: www.mdgo4it.org
o KnowHow2Go: www.knowhow2go.org
o College Goal Sunday: www.collegegoalsundayusa.org
o Mapping Your Future: http://MappingYourFuture.org
o The College Board, “Big Future”: https://bigfuture.collegeboard.org
o US News Education Center, “Paying for College”: www.usnews.com/education/best‐colleges/paying‐
for‐college?s_cid=content‐center:blogs
 Comparing Institutions:
o US Department of Education, “College Affordability and Transparency Center”:
http://collegecost.ed.gov/catc/Default.aspx
o College Navigator: http://nces.ed.gov/collegenavigator
 Videos:
o Overview of the Financial Aid Process video: http://studentaid.ed.gov/types
o YouTube “Five‐Minute FAFSA” video: www.youtube.com/watch?v=p9mMO9s6cGc
o Take Charge Today video library: http://takechargetoday.arizona.edu/pro‐dev/video‐library
 Scholarships:
o College Scholarships.org, consolidating student loans:
© Take Charge Today – October 2017 – Paying for Higher Education
Page | 3
2.3.5
www.collegescholarships.org/consolidation/student‐loan‐consolidation.htm
 Student loan repayment:
o Mapping YourFuture, consolidating student loans:
https://mappingyourfuture.org/paying/consolidation/repayment.cfm
o Equal Justice Works, free Educational Debt Manual and information on free educational debt webinars:
www.equaljusticeworks.org/ed‐debt/manual‐download
 Public Agenda: https://www.publicagenda.org/files/theirwholelivesaheadofthem.pdf
TAKE CHARGE TODAY RESOURCES
Similar lesson plan at a different level: Optional lesson plan resources:
 None available  Guest Speaker Active Learning Tool 3.0.22
 Technology Integration Options Active Learning Tool
3.0.50

CONTENT
EDUCATOR MATERIALS PARTICIPANT READING
 Materials to support educators when preparing to  Paying for Higher Education Information Sheet
teach this lesson plan are available on the Take 2.3.5.F1
Charge Today website.  The FAFSA Dissected 2.3.5.F2
 Content videos are available in the TCT video library.

OPTIONAL ADVANCE INSTRUCTION
This lesson is designed to be taught as a stand‐alone lesson. However, background content knowledge from the
following lesson plans is directly related to this lesson and may be helpful for participants.
 Preparing for Higher Education 2.3.3
 Planning for Higher Education 2.3.4

LESSON FACILITATION

PREPARE INSTRUCT CUSTOMIZE
Visual indicators to help prepare the lesson Instructions to conduct the lesson facilitation Potential modifications to lesson facilitation
VOCABULARY ACTIVITY:
Vocabulary Scavenger Hunt
Approximate time: 15 minutes
Materials to prepare:
Rather than the Paying
 Optional: 1 highlighter per participant
for Higher Education
 1 Paying for Higher Education Scavenger Hunt 2.3.5.A1 per participant
Information Sheet
 1 Paying for Higher Education Information Sheet 2.3.5.F1 per participant
2.3.5.F1 use the “FAFSA

on the Web” worksheet
1. Distribute a Paying for Higher Education Scavenger Hunt 2.3.5.A1, Paying for
available from the
Higher Education Information Sheet 2.3.5.F1, and a highlighter to each
Federal Student Aid
participant.
website.
2. Complete step 1:

a. Instruct participants to read the Paying for Higher Education
Information Sheet 2.3.5.F1 and highlight each of the vocabulary words
or words they are unfamiliar with.
b. Once all vocabulary and unknown words have been highlighted,
Page | 4
2.3.5
instruct participants to choose eight of the highlighted words that they
are least familiar with and record them in the first column of the table
on the Paying for Higher Education Scavenger Hunt 2.3.5.A1.
3. Complete step 2:
a. Instruct participants to find and record the definition of the eight
vocabulary words they are least familiar with in the second column.
For each word, have participants articulate why they think the word is
important to understand.

ANTICIPATORY SET
Getting to Know the FAFSA ‐ A Kahoot Jumble Game
 Internet access
 Interactive white board or a projector

1. Sign up or Log in at Kahoot.com and click “Find Kahoots,” then search for
“TCT's Paying for Higher Education" Kahoot. Right now, you can only
2. Click on "Play" to get a game code, then share the game code with your play Kahoot Jumble in
participants. Participants will need to be on their own device; it can be a the "Classic" version.
laptop, Chromebook, smart phone, or tablet. Team version coming
3. Have participants log in to kahoot.it and enter their game code. soon.
a. You should be able to see participant names as they log in.
4. When everyone has logged in, hit "Start". Hover your mouse over
5. Participants will be asked to put ideas or letters into a sequence. They can do any inappropriate names
this by clicking on the squares that will be transferred into spaces on the game to have them resubmit
board. their name.
6. Individual scores will be shown on the board before you move to the next
question.
7. Each question allows 60 seconds for participants to arrange their desired
sequence.
a. If time allows, go over any questions that receive very low correct
answers to clarify information related to this topic.

RECOMMENDED FACILITATION
There are two recommended facilitation options for this lesson plan.
1. Option 1: PowerPoint Presentation with Imani Scenario
2. Option 2: Note‐taking Guide with Jig‐Saw Facilitation
Option 1: PowerPoint Presentation with Imani Scenario
The Paying for Higher
 Paying for Higher Education PowerPoint presentation 2.3.5.G1
Education Note Taking
 1 Imani’s Potential Scholarships 2.3.5.A3 per group of 2‐3
Guide 2.3.5.L1 is
 1 Scholarship Website Search Group Cards 2.3.5.H1 per group of 2‐3
provided but not
 Internet access per group of 2‐3
included as part of the
 Imani’s FAFSA Forecaster 2.3.5.A4 per group of 2‐3
recommended

Present the Paying for Higher Education PowerPoint 2.3.5.G1. facilitation instruction

or approximate time.

Page | 5
2.3.5
Part 1: The Cost of Higher Education
1. Slide 1: Introduction
2. Slide 2: Receiving a Higher Education
a. Have participants brainstorm the pros and cons of higher education.
b. Stress that while there are numerous benefits to higher education
including access to higher paying jobs and lower unemployment rates,
the cost of higher education can be significant. Therefore, it is
extremely important that people plan ahead.
Show the “Why Go to
3. Slide 3: Reduce Costs by Planning Ahead
College” info graphic
a. Have participants brainstorm ways they could reduce the total cost of
from the Federal
higher education.
Student Aid website to
b. Several of the strategies listed may be implemented long before they
illustrate the higher
are eligible to apply for higher education.
earnings and lower
4. Slide 4: Academic Advisors unemployment rates
a. Introduce participants to Imani. with higher education.
i. If this lesson has been taught in a sequence using the
Preparing for Higher Education 2.3.3 and Planning for Higher
Education 2.3.4 lessons, indicate that participants are
continuing to advise Imani. Their mission is to help her explore
ways to reduce her expected $301,118 cost for higher
education and ways to pay for her education.
ii. The $301,118 assumes Imani earns a bachelor’s degree and
professional degree from private or out‐of‐state institutions.
5. Slide 5: Imani’s Plan
a. Indicate that by creating a career pathway, Imani has identified several
ways to reduce her anticipated total costs.
b. Imani learned that she can earn an associate degree that will transfer
to a bachelor’s degree. The associate degree has a lower annual cost
and an additional two years to earn a bachelor’s degree may be
required. This saves Imani almost $60,000 compared to a private
school.
c. Imani learned that by attending an in‐state public institution and living
at home while earning her associate degree, she could reduce her
expenses by an additional $63,000.
d. Finally, Imani has learned that there is a high quality, in‐state
professional degree program available for law school further reducing
her cost $83,000.
e. Imani’s costs are examples using calculations from The College Board
website. Actual costs may vary greatly between types of schools, their
location, degree programs, etc.
6. Slide 6: Imani’s Total Anticipated Costs
a. Imani has reduced her higher education costs significantly by long‐
term planning. Also, her debt‐to‐income ratio is within the ideal 10‐
15% range which means she should be in a good position to pay back
her student loans.
b. Have participants brainstorm additional things Imani can do to further
reduce her education costs.
i. Take a college placement test, such as the Accuplacer.
Sometimes grades can also provide an indication: Imani has
Page | 6
2.3.5
struggled to keep up in math. To make sure she is ready, she is
investing ~$400 in a college remediation class at her local
community college. This will ensure she succeeds in her more
challenging college courses and that she will be more likely to
graduate on time, without incurring additional college costs.
This short‐term investment will save her time and money in
the long run!
ii. Work part‐time during higher education and/or in between
each degree program.
iii. Apply for scholarships and grants.
iv. Apply for financial aid early and carefully evaluate financial aid
packages.

Part 2: Types of Higher Education Financial Aid
It is highly recommended to use the note‐taking guide at least at this point. Invite a guest speaker
7. Slide 7: Three Types of Higher Education Financial Aid such as a guidance
a. Discuss that many individuals, like Imani, need financial support to pay counselor or financial
for higher education. aid representative.
b. There are three primary types of aid: money you do not have to repay, Reference the Guest
low‐cost federal loans and higher cost private loans. Individuals may Speaker Active
use one or more types of aid to pay for their education. Learning Tool 3.0.22
8. Slide 8: Money You Do Not Have to Repay for support tools.
a. Individuals should first seek scholarships, grants and work‐study as
these are forms of financial aid that do not have to be paid back as
long as the requirements are met. Therefore, they further reduce the
cost of higher education.
9. Slides 9‐10: Scholarships
a. Scholarships must be applied for and typically have requirements
before, during or after the scholarship is awarded. Individuals may be
eligible for scholarships for a variety of reasons and should be
thoughtful of any special circumstances and extra‐curricular activities
that may increase their scholarship eligibility.
b. That there are many scholarship scams. A person should never have to
pay for a scholarship. The Federal Trade Commission website has
information about scholarship scams.
c. Ask participants to work with a partner to identify scholarships
available in their local community,
10. Slide 11: Imani’s Potential Scholarships
a. Divide participants into groups of 2‐3.
b. Provide each group with an Imani’s Potential Scholarships worksheet If time is limited,
2.3.5.A3 and one Scholarships Website Search Group Cards 2.3.5.H1. conduct the Imani
c. Review Imani’s special circumstances and extra‐curricular activities. scholarship activity as a
d. Give participants 15‐30 minutes to go to the website indicated by their conclusion activity. Or,
card and find three potential scholarships for Imani. instead of conducting a
e. As a class, have each group share a few of the scholarships they found scholarship search for
and how they would advise Imani to be eligible for as many Imani, have them conduct
scholarships as possible. one for themselves using
11. Slides 12‐13: Grants the My Scholarship
a. A variety of federal grants are available to students with financial Search 2.3.5.A7.
Page | 7
2.3.5
need. Grants do not have to be paid back as long as all requirements
are met.
b. In order to be eligible for federal student grants, individuals must
complete the FAFSA. The FAFSA application makes individuals eligible
for the greatest amount of financial aid. Stress that this application
qualifies individuals for a variety of grants and other types of financial
aid.
12. Slide 14: Work Study
a. The FAFSA application will also determine an individual’s eligibility for
work‐study programs.
13. Slides 15‐16: Low‐Cost Financial Aid: Federal Student Loans
a. To be eligible individuals must complete the FAFSA form.
b. There are a variety of different Federal Loans with different eligibility
requirements and interest rates.
c. When accepting financial aid, individuals should first take out loans
with the lowest interest rates.
d. Loans not based on financial need have higher interest rates.
14. Slide 17: High‐Cost Consumer Loans
a. Sometimes an individual may need additional financial aid; in that
case, private loans are available. Private loans should typically only be
used if all options for money you do not have to repay and lower cost
federal loans have been exhausted. Private loans are often higher cost
than federal loans and should be researched carefully.
15. Slide 18: FAFSA Forecaster;
Computer access will be required for each group to access the tool
a. The FAFSA Forecaster is a free tool that helps individuals plan for
college by learning about their eligibility for different types of student
aid.
b. Divide participants into groups of 2‐3 and provide each group with
Imani’s FAFSA Forecaster worksheet 2.3.5.A4.
c. Give the groups 15‐30 minutes to complete the worksheet.
d. As a class, discuss the answers. Stress that this tool only provides an
estimate to help individuals plan. To be eligible for financial aid, they
must complete the FAFSA.
i. 1 ‐ $3,400; no she does not have to pay this money back
ii. 2 ‐ $1,465
iii. 3 – Stafford Student Loan ‐ $5,500
iv. 4 ‐ $10,365
v. 5 ‐ $2,118
vi. 6 – $7,492 if her family contributes, $9,610 if they do not
vii. 7 – College Navigator

Part 3: Free Application for Federal Student Aid
16. Slide 19: Free Application for Federal Student Aid
a. Eligibility
b. Deadlines
c. Application Process
d. Resources
17. Slide 20: Why Everyone Should Complete the FAFSA
Page | 8
2.3.5
a. Everyone should complete the FAFSA. By completing one application,
individuals are eligible for multiple types of financial aid.
b. The FAFSA Form is used by a variety of types of post‐secondary
institutions including community colleges and four‐year colleges.
c. In addition to determining how much an individual’s family may be
able to contribute to college and the types of federal aid an individual
may qualify for, it is used by schools to determine local aid.
18. Slide 21: To Receive Federal Student Aid, You Must…
a. There are several requirements to be eligible for financial aid initially
and on an ongoing basis. Age, race and field of study do not impact
eligibility.
19. Slide 22: When Do I Fill Out the FAFSA?
An info graphic is
a. Some financial aid is awarded on a first come, first served basis.
available describing
Therefore, it is important to apply as early as possible. The federal
basic FAFSA eligibility
application process begins on October 1. State and post‐secondary
criteria on the Federal
institutions may have their own deadlines and it is important to be
Student Aid website.
aware of those.

b. Individuals must apply for financial aid each academic year and can
update their FAFSA form.
20. Slide 23: Who Decides How Much Aid I will Receive?
a. The amount of aid for those who qualify is determined by the post‐
secondary institution. Multiple factors are considered when calculating
aid.
b. The amount of aid awarded will vary between institutions.
21. Slide 24: Need‐based Aid
a. Financial Need is determined by subtracting the Expected Family
Contribution from the Cost of Attendance.
b. The Expected Family Contribution is a federal formula and the EFC rate
does not change between schools.
c. The Cost of Attendance includes tuition and fees as well as
miscellaneous expenses such as room and board. The COA is available
on each institution’s website or may be compared using the College
Navigator website.
d. Examples of need based aid include grants, Direct Subsidized Loan,
Federal work‐study and Federal Perkins Loan.
22. Slide 25: Non‐need Based Aid
a. This aid is determined by subtracting the financial aid awarded from
the Cost of Attendance.

Part 4: FAFSA Application Process
23. Slide 26: FAFSA Application Process: Determine Dependency Status Familiarize participants
a. Dependency status is important because it will determine whose with the FAFSA Form
information is required when completing the FAFSA. Dependency from the Student Aid
status is determined by completing a series of questions on the FAFSA website by distributing
application. it with The FAFSA
b. Questions are available on the FAFSA on the Web worksheet available Dissected 2.3.5.F2
on the FAFSA website. handout. Discuss each
c. Even if an individual receives no or little support from their step.
parents/guardians they may still be considered a dependent.
Page | 9
2.3.5
24. Slide 27: FAFSA Application Process: Create a PIN
a. Individuals and parents (if the individual is a dependent) apply for a
PIN number online.
b. This number is used in combination with other information when
completing the FAFSA. It is considered a legally binding form of a
signature when completing the FAFSA.
c. Individuals should keep their PIN number in a safe location to limit the
chance of fraud.
25. Slide 28: FAFSA Application Process: Gather Required Documents
a. A variety of documents are required for completing the FAFSA. A
detailed list is available on the FAFSA website.
b. Documents will not be submitted with the FAFSA. Instead, they should
be organized in a safe place to be referenced throughout the
application process.
26. Slide 29: FAFSA Application Process: Complete the FAFSA
a. To save time and enhance accuracy, a FAFSA on the Web worksheet is
available.
b. A paper version of the FAFSA application is available for those who
don’t have access to the internet.
c. When completing the FAFSA, be sure to answer all questions
completely and accurately. To save individuals time and enhance
accuracy, an IRS Data Retrieval Tool that automatically transfers tax
information to the FAFSA Form may be an option for individuals.
d. When entering schools, one in‐state school must be listed and the
schools selected should be those the individual is interested in possibly
attending. School codes may be found on the institutions website.
e. For individuals who want to apply early but have not filed their taxes,
they may complete the FAFSA using estimates and then update later.
27. Slide 30: FAFSA Application Process: Sign and Submit
a. Be sure that a confirmation is received (appears on the computer
screen and emailed if an email address is provided) to know the FAFSA
has been successfully submitted.
28. Slide 31: FAFSA Application Process: Review Your SAR
a. This form will outline information submitted on the FAFSA Form as
well as the Expected Family Contribution. It is extremely important to
check this form for accuracy and correct any errors immediately.
29. Slide 32: FAFSA Application Process: Determine Your Aid Eligibility
a. If an individual is eligible for aid and has been offered admission by
that school, each post‐secondary institution identified when the FAFSA
Form was completed will send an award letter outlining the aid
package.
b. Schools may ask for additional information.
30. Slide 33: FAFSA Application Process: Compare Aid Packages
a. When evaluating financial aid packages, individuals should determine
the net price. The net price reflects the amount of money that will be
borrowed.
b. Then, individuals should evaluate the types of and amounts of student
loans for which they qualified.
c. Before accepting any loans, individuals should make sure they
Page | 10
2.3.5
understand what they are responsible for repaying and when, and only
accept what is really needed.
d. The College Scorecard from the U.S. Department of Education’s
Affordability and Transparency Center provides information to help
individuals compare the net price of schools as well as other factors
when comparing institutions.
31. Slide 34: FAFSA Application Process: Support is Available!
a. Stress that the FAFSA process can be overwhelming and confusing but
there are multiple resources available to provide support.

Part 5: FAFSA: Agree or Disagree
32. Slide 35: Conduct an agree or disagree activity by having students use a
thumbs up or down symbol to complete a fast formative assessment of
understanding the FAFSA
a. If needed, re‐teach and discuss misconceptions
b. Note that all statements are common myths associated with the
FAFSA. Participants should disagree with each statement.
33. Slide 36: MYTH: If someone said he or she would pay you $1,000 for a few
hours of your time (to fill out some forms), would you do it? Even though you
can still get some financial aid without the FAFSA, most states, use information
filed on the FAFSA in determining a student’s financial need. The FAFSA isn’t a
hassle; it is ticket that can help you take advantage of one of the most
important opportunities in your life—higher education.
34. Slide 37: Don't assume that you are ineligible for financial aid. You may be
overlooking significant financial help. Family income is just one component of
determining aid eligibility; because there are other factors, your family can
have an income of over six figures and still qualify. For example, let’s say you
don’t qualify for a Pell grant; you won’t be able to qualify for the low‐cost
government education loans, such as the Stafford, without completing the
FAFSA first.
35. Slide 38: Because www.FAFSA.ed.gov is a secure site, your information is
encrypted for privacy. There are many reasons to use the online application
process over the paper version:
a. Your application is more likely to be accurate – the computer program
prompts you to correct mistakes.
b. The process will be shorter – the computer program skips questions
that don’t apply to you.
c. You’ll get your Student Aid Report (SAR) faster.
d. You can access and update information easily. This is especially
important because you’ll need to reapply for aid each year that you’re
in school.
36. Slide 39: FAFSA assistance is available for Spanish speakers online (you’ll see
the option in the upper right‐hand corner on the homepage of the FAFSA
website at www.fafsa.ed.gov) or when using the call center (dial 1‐800‐433‐
3243, then press “2”). If your parents speak a language other than English or
Spanish, then you may need the assistance of an interpreter. If your parents
don’t have social security numbers, they can still complete the form by putting
zeros in place of a real social security number on the FAFSA. It will not impact
your financial need assessment.
Page | 11
2.3.5
37. Slide 40: Just because you may pay less money for a credential from a
community college or a trade school doesn’t mean that you can’t apply for
financial aid using the FAFSA, or that the school you’re considering won’t take
it. As a matter of fact, of the students surveyed who did not complete the
FAFSA because they were going to a community college (full‐time or part‐
time), more than a third (36.3%) would have qualified for a Pell Grant and
almost a fifth (18.7%) would have qualified for a full Pell Grant.
38. Slide 41: The colleges you are considering only have so much aid that they can
provide—the sooner they get your FAFSA information, the better.

Part 6: When It’s Not Free Money
39. Slide 42: When It’s Not Free Money
a. Student loans must be repaid and there are serious implications to
defaulting on a loan.
40. Slide 43: If You Default on Your Student Loan…
a. If an individual defaults on a loan, there are several potential
implications.
41. Slide 44: If You Find Yourself in Trouble
a. It is important to be proactive when selecting loans and when loans
are due to create a repayment plan that works for the individual.
42. Slide 45: Your Goals
a. Review key points from the lesson.

Option 2: Note Taking Guide with Jig‐Saw Facilitation
 1 Paying for Higher Education Note Taking Guide 2.3.5.L1 per participant

1. Provide each participant with a Paying for Higher Education Note Taking Guide
2.3.5.L1 and Paying for Higher Education Information Sheet 2.3.5.F1.
2. Tell participants “Eight times as many students drop out of degree and
certificate programs due to finances and debt versus grades!” Source: Public
Agenda, With Their Whole Lives Ahead of Them, 2009.
a. Ask participants to brainstorm why this might be.
b. Have participants brainstorm ways they could reduce the cost of
higher education. Have them reference the first section of their Paying
for Higher Education Information Sheet 2.3.5.F1 for additional ideas.
3. Divide participants into five groups. Assign each group to one of the following
categories of their information sheet:
a. Different Ways to Fund Higher Education: Money You Do Not Have to
Repay
b. Different Ways to Fund Higher Education: Low‐Cost and High‐Cost
Financial Aid
c. All About FAFSA
d. The FAFSA Application Process
e. When it’s not “free money”
4. Let groups know that they will become “experts” for their section in
preparation to educate others. As a group, they should read the assigned
Page | 12
2.3.5
section of their information sheet and complete that section of their note
taking guide.
5. As a group, prepare how they would educate others in 3‐5 minutes by
discussing:
a. What are the three to five most important pieces of information they
Give each participant an
would share with others would be and why.
index card to prepare
b. Resource(s) they would go to for additional information.
his/her presentation.
i. If internet access is available per participant, encourage

participants to show online resources during their
presentation.
6. Split participants into new groups with a representative from each section.
Allow five minutes for them to share the most important information about
their section.
a. Participants may be encouraged to complete the remaining sections of
their Paying for Higher Education Note Taking Guide 2.3.5.L1 during
the presentations. Or, have them complete the note taking guide at
the end of facilitation.
7. Have participants go back to their original groups. If time allows, let them
compare the answers they got from other groups.
8. Ask if there are any questions that resulted from the group sharing.

CONCLUSION OPTIONS:
There are three conclusion options for this lesson plan.
1. Option 1: Reinforcement Worksheet
2. Option 2: Online FAFSA Resources: Group Sharing
3. Option 3: My Scholarship Search
Option 1: Reinforcement Worksheet
 1 Paying for Higher Education 2.3.5.A5 per participant

1. Complete the Paying for Higher Education 2.3.5.A5 reinforcement worksheet.

Option 2: Online FAFSA Resources: Group Sharing
Approximate time: 30‐45 minutes
 1 Online FAFSA Resources: Group Sharing 2.3.5.A6 per participant
 Internet access

1. Divide participants into groups of 2.
2. Assign each group to research and identify the most interesting and helpful
features of one of the websites listed on the Online FAFSA Resources: Group
Sharing 2.3.5.A6.
3. Provide participants with approximately 15 minutes to conduct their research
and write three things learned that would convince their peers to also use the
website.
4. Give each group 2‐4 minute to share their website with the class.
5. During each presentation, participants should write down at least two of the
reasons cited to use each website.
Page | 13
2.3.5
6. After the presentations, have participants individually answer the reflection
questions.

Option 3: My Scholarship Search
 1 My Scholarship Search 2.3.5.A7 per participant
 Internet access

1. Provide each participant with a My Scholarship Search 2.3.5.A7 worksheet.
Instruct them to use what they learned about the scholarship application
process to identify at least five scholarships that they would be eligible to
apply for.
2. Encourage participants to find scholarships from a variety of sources.
a. Websites to help them identify national scholarships are available on
the Scholarship Website Group Search Cards 2.3.5.H1.
b. Post‐secondary institutions may have information available on the
degree programs web page as well as the financial aid office.
c. Locally, employers, guidance counselors, clubs and organizations are
all great sources for scholarships.

ASSESSMENT OPTIONS:
There are three assessment options for this lesson:
1. Option 1: Paying for Higher Education Self‐Reflection
2. Option 2: Spread the Word PSA
3. Option 3: FAFSA Recipe for Success

Option 1: Paying for Higher Education Self‐Reflection
Approximate time: 45 minutes outside of class
 1 Paying for Higher Education Self‐Reflection 2.3.5.A8 per participant
 Internet access

1. Have each participant work with their parent/guardian to complete the Paying
for Higher Education Self‐Reflection 2.3.5.A8 to reflect on career pathway
planning and options for paying for higher education.
a. Reference the My Career Pathways Planning worksheet 2.3.4.A4 from
the Planning for Higher Education Lesson Plan 2.3.4,
b. Further information for the participant can be found in the Paying for
Higher Education Information Sheet 2.3.5.F1.
c. Because of the sensitive nature of some of the financial information,
the facilitator may choose to award completion points rather than
asking participants to submit the worksheet.

Page | 14
2.3.5
Option 2: Spread the Word PSA
Approximate time: 30 – 60 minute to prepare materials and 10 ‐ 30 minutes for
presentations
 1 Spread the Word PSA Planning Guide 2.3.5.A9 per participant
 1 Spread the Word PSA Rubric 2.3.5.B1 per participant
 Sample PSA’s (URL’s in resources section):
o KnowHow2Go website (TV, Radio and Print PSA’s)
o FAFSA Hooray Video
 Optional: Technology Integration Options Active Learning Tool 3.0.50

1. Have participants work in groups of 2‐3 or individually.
2. Provide each participant with a Spread the Word PSA Planning Guide 2.3.5.A9
Create a community
and a Spread the Word PSA Rubric 2.3.5.B1.
awareness campaign
3. Let participants know that they will be creating a Public Service Announcement
about Paying for Higher
that can be read or said in 60 seconds or less.
Education using:
4. Review the Spread the Word PSA Planning Guide 2.3.5.A9.
 PSA’s created
a. Instructor may choose to assign participants to topics and target
 College Goal
audiences to ensure variety of topics are discussed or allow
Sunday website
participants to select their own.
resources
5. Indicate that PSA’s will be graded using the Spread the Word PSA Rubric
 Federal Student Aid
2.3.5.B1. website resources
a. If participants are creating an electronic PSA, the Technology
Integration Options Active Learning Tool 3.0.50 features Web 2.0 tools
to create posters, animated videos, etc.
6. If time allows, have each participant/group present their PSA to the class.

Option 3: FAFSA Recipe for Success
 1 FAFSA Recipe for Success Rubric 2.3.5.B2 per participant
 Provide the URL or printed handout of the FAFSA on the Web Worksheet per
participant (URL in the resources section)
 Provide the URL or printed handout of the FAFSA Application per participant
(URL in the resources section)

1. Provide each participant with a FAFSA Recipe for Success Rubric 2.3.5.B2 and
instruct them to go online or provide printed handouts of the FAFSA on the
Web Worksheet and FAFSA Application.
2. Their mission is to create a “recipe” that parents and/or peers can follow to
ensure success when completing the FAFSA form.
3. Following the format of a recipe, start with the ingredients (all required
materials in the order you will need), estimated time to “cook” or complete
the FAFSA and then step‐by‐step directions.
4. Successful recipes will also include tips and illustrations or visual aids.
a. An option to incorporate illustrations is to format the recipe like an
info graphic. Show samples of info graphics available on the Student
Aid website listed in the supplemental resources section.

Page | 15
2.3.5.E1
Paying for Higher Education Vocabulary List
TERM DEFINITION
1 Consolidate (financial) To combine (a number of financial accounts or funds) into a single
overall account or set of accounts
2 Cost of Attendance Total amount it will cost you to go to school (includes tuition and fees as well as
(COA) personal expenses).
3 Deferment period Postponement of payment on a loan allowed under certain conditions and
during which interest does not accrue
4 Expected Family An estimate of the parents' and/or student's ability to contribute to post‐
Contribution (EFC) secondary expenses. In general, the lower the EFC, the higher the financial aid
award from the college may be.
5 FAFSA The common name for the Free Application for Federal Student Aid form
prepared annually to determine eligibility for post‐secondary financial aid
6 Financial need The difference between the cost of attending a particular school and the
expected family contribution.
7 Forbearance Ability to stop or reduce loan payments for up to 12 months while interest is
accruing
8 Grant A tax‐exempt financial aid that may be given for many purposes, not necessarily
just for education
9 Grace Period Period of time after a borrower graduates, leaves school or drops below half‐
time enrollment where they are not required to make certain federal loan
payments
10 Loan default Failure to pay a loan according to the agreed upon terms
11 Loan servicer Company that collects payment on a loan
12 Net price The cost of attendance minus grants and scholarships.
13 Personal Identification A four digit number used as an electronic signature
Number (PIN)
14 Scholarship Money awarded to students that does not have to be repaid and is based on
academic or other achievement to help pay for education expenses
15 Student Aid Report A report that summarizes responses made when completing the FAFSA form
(SAR)
16 Subsidized loan A need‐based loan from the federal government, the interest of which is paid
for by the U.S. Department of Education while the borrower is in school and
during grace and deferment periods.
17 Unsubsidized loan A non‐need‐based loan from the federal government, the interest of which is
paid for by the borrower
18 Work‐study A federal program that provides part time employment opportunities for
students with financial need, allowing them to earn money to help pay
educational expenses.

© Take Charge Today – March 2014 – Paying for Higher Education
Page | 16
2.3.5.A1
Paying for Higher Education Scavenger Hunt

Total Points Earned
Name
24 Total Points Possible
Date
Percentage
Class

Step 1: On the Paying for Higher Education Information Sheet 2.3.5.F1, find and highlight each of the
vocabulary words in the table below.
Vocabulary Words
Consolidate Cost of Attendance Deferment Expected Family
Contribution
FAFSA Work‐Study Forbearance Grant
Grace Period Loan Default Loan Servicer PIN
Scholarship Student Aid Report Subsidized Loan Unsubsidized Loan

Step 2: Review the highlighted words on the Paying for Higher Education Information Sheet 2.3.5.F1. Which
words are you least familiar with? In the first column of the table below, write seven words that you are least
familiar with. Using your information sheet, write the definition of each word in your own words and why the
word is important to understand.

Word Definition Why The Word is Important to Understand

Page | 17
2.3.5.L1

Paying for Higher Education Note Taking Guide

Total Points Earned
Name
Total Points Possible
Date
Percentage
Class

Three ways to reduce the cost of higher education include:

Money You Do Not Have to Repay

Characteristics of scholarships
Scholarships are based on...
Three scholarship sources:

What are grants? Who are they How do you apply? Two examples are:
typically awarded
to?

Describe the Federal Work‐Study program.

Page | 18
2.3.5.L1

Low‐Cost Financial Aid

Characteristics of Federal Student Loans
How do you apply for a Federal Student Loan?

Identify the types of Federal Loans and a characteristic of each.
Highest interest rates
Lowest interest rates

High‐Cost Consumer Loans
Who offers private loans and why should they typically be the last financial aid option considered?
Page | 19
2.3.5.L1

All About FAFSA (Free Application for Federal Student Aid)

Why should everyone complete the FAFSA?

Four eligibility requirement are...

When should the FAFSA be completed?
How do I learn the Federal, State and Post‐secondary deadlines?
How often does the FAFSA need to be completed?

Page | 20
2.3.5.L1

What is need‐based aid?

Cost of Expected Family
Financial Need
Attendance Contribution
Minus
Equals

How is non‐need based aid calculated? Why do non‐need based aid sources have higher

interest rates?

The FAFSA Application Process

Why is dependency How do you learn your
How is the PIN used? How do you get a PIN?
status important? dependency status?

Describe the types of documents required to complete the FAFSA.

Page | 21
2.3.5.L1

What are three things to remember when completing the online FAFSA Form?

What do you need to do when submitting the FAFSA? How do you know if it has been successfully
submitted?

Why is it important to review the Student Aid Report?
What are you responsible for doing if your post‐secondary institution sends
you an award letter?
What should you consider when comparing aid packages?

When It’s Not Free Money

What are the implications of defaulting on a student What should you do if you are having trouble paying
loan? back your student loans?

Page | 22
2.3.5.A3

Imani’s Potential Scholarships

Directions: Review Imani’s special circumstances and her extra‐curricular activities. Using the website
assigned to your group, find at least 3 different scholarships for which Imani is eligible.

Imani’s Special Circumstances:
 I am a member of an ethnic minority that traditionally has a lower than national average rate of college
education.
 I am the first generation to attend college.
 I want the education or training required for a specific occupation that would be supported by
association or other scholarships.
 I was born to a teen mom.
 My family has an income that would show a greater than normal need for financial aid in order to pay for
higher education.
 My mom works at a company that offers scholarships to children of employees.

Imani’s Extra‐Curricular Activities
 JV Basketball  Peer Tutor
 Class Vice President  Cashier job at local fast food place
 Volunteer at Boys and Girls Club  Babysit two younger brothers

Scholarship website: _____________________________________________________________

Possible Scholarships Who Sponsors It Eligibility Amount
SAMPLE: Attend Division II school,
NCAA (through Division
Division II girls demonstrate academic & sports $1000/year
II school)
basketball scholarship excellence

What are three things Imani can do today to be eligible for as many scholarships as possible?
Page | 23
2.3.5.H1

Scholarship Website Search Group Cards

Your Website: College Board Fund Finder Your Website: Fast Web
(https://bigfuture.collegeboard.org/scholarship‐search) (www.fastweb.com)
Special Notes: Use the “Quick Search” feature for Special Notes: This site will keep insisting you
this activity. need to sign up, but you don’t. You can still
search by using the “Scholarship” tabs along the
top or by scrolling to the bottom of the page
where it says “Scholarship Directory” and picking
one of the subcategories. If you do decide to
sign up, remember to opt out of all of the third‐
party services and communications.
Your Website: Scholarship America Your Website: College Data
(http://scholarshipamerica.org/) (www.collegedata.com)
Special Notes: Good site for overall information Special Notes: Good site for overall information
and possible scholarship sources. and possible scholarship sources.
Your Website: College Scholarships Your Website: Institution search for scholarships
(www.collegescholarships.org)
Special Notes: When looking for scholarships,
Special Notes: None—this site does not share your always perform an Internet search for the higher
personal information with third‐party sites. education institution that most interests you and
“scholarships” or “grants.” You never know what
you might find!

Page | 24
2.3.5.A4

Imani’s FAFSA Forecaster

Total Points Earned
Name
(1 point each) Date
Percentage
Class

Directions: Use the following information to estimate Imani’s potential financial aid and expected family
contribution using the FAFSA Forecaster website https://FAFSA4caster.ed.gov.

Imani’s information:
 US citizen, 18 years old, born March 3rd
 Single, never married, no children
 Mom is 34 years old and divorced
 4 currently live in her Mom’s household; Imani will be the only one in college
 Neither she nor her Mom have filed taxes recently
 Both are residents of the state of Maryland
 Mom earned $42,000 last year; Imani earned $7,239
 Mom’s assets equal $4,392 (the combined amount in her savings and checking accounts); Imani has
$3,075 in savings only
 Cost of college each year is $19,975

1. What is the potential award amount for the Pell Grant and does Imani have to pay this back?

2. If Imani decides to participate in her college’s work‐study program, how much could she earn?

3. Imani qualifies for a low‐interest government loan. What is it called and how much does she qualify for?

4. What is the total amount of estimated financial aid Imani could get based on this information?

5. What is Imani’s Estimated Family Contribution?

6. How much of Imani’s estimated college costs does she still need to pay for?

7. What resource is noted if you don’t know the cost of a college?

Page | 25
2.3.5.A5
Paying for Higher Education Reinforcement Sheet

Total Points Earned
Name
Date
Percentage
Class

Directions: Match the following terms with the correct statement. Not all terms will be used. (1 point each)
A. Deferment
1. ________ The difference between the cost of attending a particular
school and the expected family contribution, minus any other financial B. Financial need
aid. C. Forbearance

2. ________ Postponement of payment on a loan allowed under certain D. Grant
conditions when interest does not accrue. E. Loan default

3. ________ Money awarded to students that does not have to be repaid F. Scholarship
and is based on academic or other achievements. G. Subsidized loan

4. ________Failure to pay a loan according to the agreed upon terms. H. Unsubsidized loan

5. ________ Stop or reduce loan payments for a short period of time while
interest still accruing.

6. ________ A need‐based loan from the federal government, the interest
of which is paid for by the U.S. Department of Education while the
borrower is in school and during grace and deferment periods.

7. ________A tax‐exempt financial aid that may be given for many
purposes, not necessarily just for education.

Directions: Answer the following questions using complete sentences.

8. Identify three ways individuals may reduce their total cost of higher education. (3 points)

9. What does the acronym “FAFSA” stand for? (1 point)

Page | 26
2.3.5.A5
10. Describe the difference between a subsidized and an unsubsidized loan. (2 points)

11. List at least three documents that you may need to refer to when completing the FAFSA form. (3 points)

12. Why should you review the Student Aid Report closely? (1 point)

13. Describe one option you have if you find you are unable to repay your student loans. (1 point)

14. Order the following types of loans from lowest to highest interest rates: PLUS Loan, Private Loan, Direct
Subsidized Stafford Loan, Federal Perkins Loan, Direct Unsubsidized Stafford Loan. (5 points)

Highest interest rate

Lowest interest rate

Directions: Determine if each statement is true or false and indicate T for true and F for false. (1 point each)

15. _____ You should never have to pay for a scholarship.
16. _____ During a grace period, interest does not accrue.
17. _____ You only have to complete the FAFSA application once for the entire time you are in school.
18. _____ All federal student loans have the same interest rates
19. _____ Private loans often have lower interest rates than federal loans
20. _____ The Expected Family Contribution varies per school.
21. _____ If you are a dependent, you only have to submit information about yourself when completing the
FAFSA.
Page | 27
2.3.5.A6

Online FAFSA Resources: Group Sharing

Total Points Earned
Name
Date
Percentage
Class

Directions: List your website, visit the site and list the best or most helpful things about your site. Then,
prepare to share the website assigned to your class with the goal of getting them to visit your site.

Your website:

What are the three most important things you learned about this website that you think will convince your
peers to use it? (3 points each)
1.

2.

3.

Directions: Your group has one minute to share the best features of your site and to convince your
classmates to use it. When your classmates present, write two things you like about each site. (3 points each)

Free Application for Federal
Website Student Aid (FAFSA) Two reasons to use this site:
www.FAFSA.ed.gov

1.
Presenters:
2.

FAFSA4caster
Website Two reasons to use this site:
https://FAFSA4caster.ed.gov

1.
Presenters:
2.
Page | 28
2.3.5.A6

Mapping Your Future
Website https://MappingYourFuture.org
Two reasons to use this site:

1.
Presenters:
2.
The College Board
“Big Future”*

1.
Presenters:
2.
* https://bigfuture.collegeboard.org/

KnowHow2Go
www.knowhow2go.org

1.
Presenters:
2.
MDgo4it***
www.mdgo4it.org

1.
Presenters:
2.
*** Section “Pay for College: Applying for Financial Aid”
Directions: Complete after the group sharing.
4. Which website shared by your peers would you be interested in learning more about? Why? (2 points)

5. Which website shared by your peers is not a good fit for you? Why? (2 points)

Page | 29
2.3.5.A7

My Scholarship Search

Total Points Earned
Name
Date
Percentage
Class

Directions: Complete this worksheet to identify potential scholarships you could apply for to fund your higher education.

1. Identify at least 5 characteristics about you or your family, extra‐curricular activities and higher education plans that may be eligibility factors
when you research scholarships. (5 points)

2. Using the table on page 2, identify at least 5 scholarships for which you are eligible to apply. Use the variety of in‐person and online resources
available to you to identify: (5 points)
 1‐3 scholarships from national databases
 1‐3 scholarships offered by post‐secondary institutions you are interested in attending
 1‐3 local scholarships

3. After completing the table, what are three things you can do today to be eligible for as many scholarships as possible? (3 points)

Page | 30
2.3.5.A7

Possible Website or Contact Application
Who Sponsors It Eligibility Amount
Scholarships Information Deadline

Page | 31
2.3.5.A8

Paying for Higher Education Self‐Reflection

Total Points Earned
Name
Date
Percentage
Class
Directions: Work with a role model to begin creating a plan to pay for your higher education. Throughout the reflection have the role model initial in the
indicated box. Reference the Paying for Higher Education Information Sheet 2.3.5.F1 for additional resources.

1. Write the name of your role model as well as why you look up to this adult. (2 points)

2. Share with the role model your career goal. (1 point)
Initial

3. What is your career pathway to accomplish that goal? Identify, at least two, possible post‐secondary institutions and the annual cost of attendance for
each level of education/training required. The Cost of Attendance can be found on the institution’s website or the College Navigator website
http://nces.ed.gov/collegenavigator/ (10 points for completion)
Level of education Type of certificate An occupation for Approximate time Post‐secondary Annual Cost of Potential Total Cost
or training or degree program this level of training to accomplish this Institution Attendance (approximate time
(associate, bachelors, training (COA) x annual COA)
etc.)

Page | 32
2.3.5.A8

Total potential cost to achieve my career goal:

4. Write why you believe the post‐secondary education and training is worthwhile for your chosen career? Share with your role model. (2 points)
Initial

5. Write why you believe you are academically ready for post‐secondary education and training? Share with your role model. (2 points)
Initial

6. What are three ways you could potentially reduce your education costs? (3 points)

7. List at least three potential sources for scholarships or grants that would help fund your post‐secondary education and training: (3 points)
Optional: Work with a parent or guardian to estimate your potential federal student aid and expected family contribution for your first year of higher
education. Use the FAFSA Forecaster website to do this: https://FAFSA4caster.ed.gov.
a. My potential grants and scholarships:
b. My potential work‐study:
c. My potential student loan amount(s) and the type of loan(s):
d. My estimated family contribution:
e. Difference (note that this only indicates federal aid – additional funding may be awarded by the post‐secondary institution during the FAFSA
process:

Page | 33
2.3.5.A8

8. What deadlines do you need to be aware of when completing the FAFSA application? Information is available on the “FAFSA on the Web” worksheet
http://studentaid.ed.gov/resources#fafsa and the post‐secondary institutions website. (4 points)

a. Post‐secondary:
b. State:
c. Federal:
d. My FAFSA submission deadline goal:

9. When completing the FAFSA, will you likely be considered a dependent or independent? See section 2 of the FAFSA on the Web worksheet
http://www.fafsa.ed.gov/help/ffdef44.htm (1 point)
10. What are two steps you (and parents/guardians if a dependent) will begin taking today to gather the required documents for the FAFSA
Initial
application? (2 points)

11. Two resources to utilize for free support during the financial aid process include: (2 points)

Role Model Signature:

Role Model Comments:

Page | 34
2.3.5.A9

Spread the Word PSA Planning Guide

Directions: Create a public service announcement (PSA) that can be read or said in 60‐seconds.

Key message for viewers/readers to remember
(in one sentence):
Topic (choose one):
□ Types of financial aid
□ Money you do not have to repay
□ Types of low‐cost financial aid
□ Importance of the FAFSA

□ How to complete the FAFSA
Three talking points that create awareness, show
□ Paying back student loans importance or promote change:

Target audience (choose one)

□ Middle and high school students

□ Parents/grandparents What should the reader/viewer do as a result of
the PSA and where can they go to learn more?

Two ways the PSA could be distributed to your target audience:
PSA Format (choose one):

□ Video commercial (television or
online)
□ Radio advertisement
□ Magazine or newspaper
advertisement
□ Billboard
□ Jingle
Now create your PSA!
Page | 35
2.3.5.B1

Spread the Word PSA Rubric

Total Points Earned
Name
Date
Percentage
Class

Directions: Create a public service announcement (PSA) that can be read or said in 60‐seconds.
Exemplary Satisfactory Unsatisfactory No Score

Performance
Message: 9‐7 6‐4 3‐1 0
 PSA identifies the topic clearly.
 Gives 3 facts that create awareness or
shows importance or promotes
change effectively through a simple,
clear message.
 PSA is persuasive and will influence
intended target audience to act.
Delivery: 9‐7 6‐4 3‐1 0
 PSA delivery is well rehearsed and/or
well‐formatted.
 PSA content is appropriate for
intended target audience.
 PSA is free from visual or verbal
clutter that distracts from the
message.
 PSA is appealing.
Format: 9‐7 6‐4 3‐1 0
 PSA can be read or said in under 60
seconds.
 Any form jargon or vocabulary used in
the PSA is clearly defined and/or
explained.
 PSA could be easily communicated
through social media venues.
 All PSA wording reflects appropriate
spelling, grammar and/or
punctuation.
Total Points Earned
Total Points Available 27
Percentage

Comments:

Page | 36
2.3.5.B2

FAFSA Recipe for Success Rubric

Total Points Earned
Name
Date
Percentage
Class

Directions: Create a “recipe” parents and/or peers can follow to ensure success when completing the FAFSA
form. Be sure to follow the format of a recipe, including ingredients, estimated completion time to and step‐
by‐step directions. Successful recipes will also include tips and illustrations.

Exemplary Satisfactory Unsatisfactory No Score
Performance
Message: 12‐9 8‐5 4‐1 0
 Identifies all documents and
materials required to complete the
FAFSA.
 Specifies any preparation that needs
to be completed before filling out the
FAFSA.
 Includes an estimated completion
time.
 Provides step‐by‐step instructions in
easy to read and accurate terms.
 Includes resources and additional
tips.
Delivery: 9‐7 6‐4 3‐1 0
 Includes illustrations or visual aids
that add clarity.
 Easy to read.
 Visually appealing.
Format: 6‐5 4‐3 2‐1 0
 Recipe has a title and identifies the
“chef” who wrote the recipe.
 Wording reflects appropriate spelling,
grammar and/or punctuation.
Total Points Earned
Total Points Available 27
Percentage

Comments:

2.3.5.F1
Paying for Higher Educa on

Advanced Level
Countless sta s cs demonstrate that con nuing your educa on a er high school has major benefits, such as access to higher
paying jobs and a lower chance of unemployment. However, it can also come with a big price tag. As a ma er of fact, eight
mes as many students drop out of degree and cer ficate programs due to finances and debt issues than grades.1 This
makes it even more important to plan ahead so that you have the money you need to cover con nuing educa on costs and
living expenses.
Why do you think college students are so
Planning ahead will provide you with flexibility to consider alterna ves that suscep ble to debt?
reduce the total cost of higher educa on and training. Examples include:
 Start saving early!
 While in high school, take advanced courses or pass college‐level
exams to earn college credits for free or at a greatly reduced rate.
 While in high school, take college placement exams early and if a
remedia on course is needed, take it.
 Begin career pathway planning early and work with an advisor
while earning your post‐secondary educa on to minimize the
chance of changing degree programs.
 A end a local school and live at home.
 Work part‐ me to pay for part of your expenses.
 A end a community or junior college for a few semesters before transferring to a more expensive four‐year
ins tu on.
 Carefully evaluate the cost of a endance for schools you are interested in to find a school that is both high‐quality
and low‐cost.
For many, receiving financial aid is necessary to pay for higher educa on. Understanding the types of aid available and
applica on process is essen al to reducing your total expenses.
Different Ways to Fund Higher Educa on

There are three primary types of higher educa on financial aid:
money you do not have to repay, low‐cost federal loans, and
high‐cost consumer loans.
1. Money you do not have to repay

There are three different types of “free money” you can use
to pay for higher educa on: scholarships, grants and work‐
study. These financial aid op ons do not require you to pay
anything back as long as you meet the requirements.
Find great informa on on types and sources of financial aid, how to apply for financial aid, college savings plans and
more at MDgo4it: h p://www.mdgo4it.org/
1
More than half of those who dropped out cited needing to work, another 31% said they couldn’t afford tui on. Only 10% dropped out because they found the classes too difficult. Public
Agenda, With Their Whole Lives Ahead of Them, 2009, h ps://www.publicagenda.org/files/theirwholelivesaheado hem.pdf
© Take Charge Today – October 2017 – Paying for Higher Educa on – Page 1
Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Ins tute at The University of Arizona
2.3.5.F1
Scholarships:
A scholarship is money awarded to students that does not have to be repaid
and is based on academic or other achievements to help pay for educa on Watch out for scholarship scams.
expenses. Scholarships usually must be applied for and have requirements for Unscrupulous companies guarantee or
the student before, during and a er the scholarship is awarded. Typical promise scholarships, grants or fantas c
requirements include high school academic achievement, evidence of financial aid packages. Many use high
excellence in a high school ac vity (sport, club leadership, extra‐curricular pressure sales pitches at seminars where
ac vity), ongoing community service, maintaining a specific GPA while in high you're required to pay immediately or
school or taking a specific number of credits. risk losing out on the "opportunity." You
Possible Scholarship Sources: should never have to pay for a
High School Guidance Counselors: Look here for local and school‐based scholarship! Check out the Federal Trade
scholarships. Commission’s website for more
Financial Aid Office: The post‐secondary ins tu on you want to a end informa on:
will have many scholarships—the earlier you check and apply the be er! www.consumer. c.gov/financialaid
Employer: If you have a job, paid or unpaid, your employer may provide
scholarships to help fund higher educa on.
Clubs and Organiza ons: Such as Na onal Honors Society, Girl Scouts, Habitat for Humanity, and Spanish Club can all
lead to poten al funding for higher educa on.
Affilia ons: There are many scholarships that target students with specific backgrounds, such as race, ethnicity,
military background, religion and gender.
Interests/Poten al Major or Career: Did you know you can get scholarships for computer programming,
environmental protec on, coding, Homeland Security or Cyber Security?2
Grants: Work‐Study Earnings:
A grant is tax‐exempt financial aid that may be given for many purposes, not The federal work‐study program
necessarily just for educa on. Grants tend to have less rigid requirements than provides part‐ me employment
scholarships and are given by non‐profit organiza ons, corpora ons, or opportuni es for students with
founda ons. Grants are generally given for specific projects, and the recipient financial need, allowing them to earn
will be expected to report informa on about the project to the donor. money to help pay educa onal
Federal student grants: expenses. Money is awarded by the
Almost all federal grants are awarded to students with financial need. The school and eligibility is determined by
federal grant applica on process begins when you submit your Free Applica on the FAFSA.
for Federal Student Aid (FAFSA). You then work with your post‐secondary
What personal ac vi es, skills or
ins tu on to find out how much you can get and when you can get it. Federal achievements do you think might
grants include: lead to free financial aid for you?
 Federal Pell Grant
 Federal Supplemental Educa onal Opportunity Grant (FSEOG)
 Teacher Educa on Assistance for College and Higher Educa on (TEACH)
Grant
 Iraq and Afghanistan Service Grant
 Academic Compe veness Grant
 Na onal Science and Mathema cs Access to Retain Talent (SMART) Grant
2
To find these, perform an Internet search for scholarships for computer programming; environment or green scholarships; scholarships for coding, homeland security and cyber security.
2.3.5.F1
2. Low‐Cost Financial Aid Loans used to pay for higher

The federal government offers loans that have lower and fixed interest rates, educa on are considered
generous repayment plans, no prepayment penal es and no credit checks (except “good” debt. Do you agree?
for PLUS Loans). The amount you can borrow is determined by informa on
provided on the FAFSA.
The following list of federal student loans (listed in order from lowest interest rate loan
to highest interest rate).
 Federal Perkins Loan: A loan issued through your educa onal ins tu on for
undergraduate and graduate students who demonstrate financial need.
 Direct Subsidized Stafford Loan: A need‐based loan from the federal
government. The U.S. Department of Educa on pays the interest while the borrower is in school and during grace
period (period of me a er a borrower graduates, leaves school or drops below half‐ me enrollment where
they are not required to make certain federal loan payments) and deferment period (postponement of payment
on a loan allowed under certain condi ons and during which interest does not accrue).
 Direct Unsubsidized Stafford Loan: Non‐need‐based loan from the federal government. The borrower is
responsible for all interest costs.
 PLUS Loan: A low‐cost loan offered to graduate students and parents of undergraduate students currently
enrolled in post‐secondary educa on. The loan is unsubsidized (you are responsible for paying all interest).
3. High‐Cost Consumer Loans

No and low‐cost financial aid op ons may not cover all of your
educa on, training, or related costs –such as housing,
transporta on, textbooks and educa onal materials. Therefore,
private loans offered by lenders such as a bank, credit union, state
agency, or higher educa onal ins tu ons are available. You apply
directly with the lender and pay 100% of the interest, which is
o en at a higher rate than a federal loan. Typically, these loans
should only be considered a er all no and low‐cost scholarship,
grant and federal loan op ons are considered.
You pay 100% of the interest – o en

a higher rate than a federal loan.
Confused? Who wouldn’t be? For more informa on and ps regarding financial aid, check out the “You Free Applica on
for Federal Student Aid” video, available on the TCT website at h ps://takechargetoday.arizona.edu/fafsa. Through this
video, Dr. Jennifer Haughie will help you navigate the labyrinth of government aid and paperwork, from public and
private grants and scholarships to tax forms and loan applica ons.
Another excellent resource is the set of online Paying For College tools created by the federal Consumer Financial
Protec on Bureau at h p://www.consumerfinance.gov/payingforcollege. Paying for College helps consumers with each
stage in deciding how to pay for college, from college choices and weighing student loan op ons, through gradua on
and repayment of loans.
2.3.5.F1
All About FAFSA!
The Free Applica on for Federal Student To receive federal student aid, you must…
Aid (FAFSA) gives you access to the Be a U.S. ci zen or documented legal resident
largest source of financial aid. The FAFSA Be a high school graduate (or have a GED, or pass an ability‐to‐benefit
determines how much your family can test)
afford to contribute to your post‐ Be registered with the Selec ve Service if you are a male between the
secondary educa on, whether it is for a ages of 18 and 25. (If you are male but you’re not registered, you can do
four‐year college, community college or this while comple ng the FAFSA)
a technical or trade program. It Be enrolled or accepted for enrollment in an eligible post‐secondary
determines what types of financial aid program
you qualify for including loans, grants Sign cer fying statements on the FAFSA confirming that you are not in
and work‐study. Not only is the FAFSA default (failure to pay a loan according to the agreed upon terms) on a
used federally, but many states and post federal student loan and will use the loan only for educa onal purposes
‐secondary ins tu ons also use it to Have no drug convic ons while receiving student aid
determine aid. Everyone interested in Maintain sa sfactory academic progress
financial aid should complete the FAFSA!
Your age, race, and field of student do not affect your eligibility.
When do I fill out the FAFSA?

It is important that you are aware of all federal, state and post‐
secondary ins tu on deadlines. You should complete the FAFSA as
soon as it’s available because there are some first‐come, first‐served
aid programs. The federal student aid applica on process occurs
star ng October 1 of each year. State and post‐secondary aid is
awarded using the FAFSA form but the deadlines will vary by state
and ins tu on. Learn about state deadlines from www.fafsa.ed.gov
Who decides how much aid I will receive? and ins tu on deadlines by contac ng the financial aid office.
The amount awarded is determined by your post‐ The FAFSA form must be completed every academic year you are in
secondary ins tu on and depends on a variety of school to stay eligible for financial aid.
factors including:
 Your Expected Family Contribu on
 Your year in school
 Your enrollment status
 The Cost of A endance at your post‐
secondary ins tu on
Need‐based aid is financial aid that you receive

if you have the financial need and have met
other eligibility criteria. Examples of need‐based aid include Federal Pell
Grant, Direct Subsidized Loan, Federal Perkins Loan and Federal work‐study.
Non‐need‐based aid is available to cover your cost of a endance minus
other financial aid awarded. Examples of non‐need‐based aid programs are
Unsubsidized Loans and the Federal Plus Loan.
The FAFSA Applica on Process: 2.3.5.F1
 Determine your dependency status – It is important to know whose informa on must be reported. If you are a
dependent you will report you and your parent(s)/guardian(s) informa on. This gives a consistent and full picture of
your family’s financial strength but does not mean that your family is required to contribute to your educa on. If you
are independent, you will report your own informa on and your spouses if you are married. The FAFSA website has a
checklist to help you determine if you should be filing as a dependent or independent student.
 Create a FSA ID – The FSA ID gives you access to the Federal Student Aid’s online systems to iden fy you on the FAFSA
website and serves as your electronic signature. To create your FSA ID, go to h ps://fsaid.ed.gov.
 Gather required documents – If you are filing as a dependent, you will need the following documents for both you and
your parents/guardians. Do not mail your records to Federal Student Aid. Keep these records in a safe place! You may
need them again to verify your FAFSA applica on.3
 Iden fica on documents – Social Security Number and Alien Registra on Number if you are not a U.S. ci zen.
 Federal tax informa on from the previous year – including W2’s, Federal 1040
Forms, and Foreign tax return. Use the IRS Data
 Records of untaxed income from the previous year – child support, interest Retrieval Tool to
income, veteran’s benefits, etc. automa cally
transfer your tax
 Current asset informa on – bank statements, investments, real estate, etc.
informa on into the
 Complete the FAFSA – Go online to www.fafsa.ed.gov to complete your FAFSA. Answer all
FAFSA Form.
ques ons accurately and completely. If you have not completed your taxes before you
submit the FAFSA, es mate the amounts and then update the informa on later. When
comple ng the FAFSA, you may list between one and ten schools. Schools you list will automa cally receive your FAFSA
informa on.
 Sign and submit – If filing as a dependent, both you and your parent/guardian will be required to sign and submit the
FAFSA using your separate PIN’s. Your applica on has not been successfully submi ed un l a confirma on page
appears.
 Review your Student Aid Report (SAR) – This is a summary of the FAFSA data you submi ed including your EFC received
3 days to 3 weeks a er submi ng your FAFSA. It should be reviewed closely and any errors corrected immediately.
 Determine Your Eligibility for Aid ‐ Once you successfully submit your FAFSA it will be distributed to the post‐
secondary ins tu ons indicated on your applica on to determine your aid eligibility. If you are eligible and accepted to
that school, they will send you an award le er outlining your aid package. The school may also ask for addi onal
documenta on during the award process. Be sure to respond by their deadlines.
 Compare Aid Packages ‐ Carefully evaluate the types of aid being offered by each school to determine which school is
the most affordable for you. To determine the net price, subtract the grant and scholarship amounts from the cost of
a endance. Then, compare any student loan offers to understand what you are responsible for paying and by when.
Only accept the amount of aid you really need!
 Support is available for every step! A variety of resources are available during
every step of the process including: What kind of help do you need to
a. Free Applica on for Federal Student Aid (FAFSA) (www.FAFSA.ed.gov) complete the FAFSA?
b. Post‐secondary ins tu on financial aid office
c. Federal Student Aid (h p://studentaid.ed.gov/)
d. College Goal Sunday (h p://www.collegegoalsundayusa.org/)
e. KnowHow2Go (h p://www.knowhow2go.org/)
f. MDgo4it, “Pay for College: Applying for Financial Aid”: (h p://
www.mdgo4it.org/)
3
h ps://fafsa.ed.gov/help.htm
2.3.5.F1
When it’s not “free money”

Remember, federal student loans are real loans, just like car loans or mortgages. You must repay a student loan even if your
financial circumstances become difficult. Your student loans can’t be canceled because you didn’t get the educa on or job
you expected or because you didn’t complete your educa on (unless you couldn’t complete your educa on because your
school closed).4
Depending on the types of financial aid you received, you may have mul ple loan servicers (a company that collects
payments on a loan). Each loan servicer will have its own payment process. Be sure that you fully understand the repayment
terms when accep ng the loan and your repayment and consolida on op ons. Choose a payment plan that is realis c for
you both short and long‐term while minimizing the total interest and fees paid.
Not paying your student loans back is serious business. If you A defaulted student loan is also one of the worst entries
default on your student loan: that can appear on a credit report. It can mean that:
 Your en re loan balance will be due in full, immediately.  You may be denied credit cards, car or home
 Collec on fees can be added to your outstanding balance. loans, or apartment leases.
 Your wages may be garnished.  Your interest rate may rise on exis ng loans
 Your Social Security, disability income, and state and and credit cards.
federal tax refunds can be seized.  Banks may refuse to allow you to open a
 You will lose eligibility for federal aid, including Pell checking account.
grants, in the future.  You may have to pay more for car or home
 You will lose deferment or forbearance (ability to stop or insurance.
reduce loan payments for up to 12 months while interest  You may be unable to obtain or renew a
is accruing) op ons. professional license.
6
 Outstanding fees and unpaid interest can be capitalized  You may be denied a job due to poor credit.
(added) onto your principal balance.5
Be sure to check out the extensive chart that compares Federal loan repayment op ons at
h ps://studentaid.ed.gov/sa/repay‐loans/understand/plans.
If you find yourself in trouble, don’t panic! You s ll have a few op ons:
1. Defer: Many lenders will give you 2. Consolidate: A consolida on loan is one 3. Renego ate repayment terms:
a grace period a er you graduate loan you make with a lender who then Some mes you can choose from
from college before you have to literally pays off your other loans, the loans different repayment op ons such
start repaying your loan that you can you couldn’t afford to pay separately. as graduated (you start off with
extend if you need to. Just Ideally, a consolida on loan comes packaged lower payments that increase
remember that the longer you put it with a markedly lower monthly payment over me) or income‐based
off, the more you will pay in interest. and possibly lower interest rate but a longer (payment amount is calculated on
repayment term is almost a guarantee. a wage‐based formula).
When considering how to pay for financial aid, remember that there are lots of resources available to help. Apply for as
many scholarships and grants as possible! Be aware of deadlines and complete the FAFSA to be eligible for the maximum
amount of aid. Remember that financial aid is not necessarily free money. Keep your financial reputa on clean by keeping
your loan amounts low and never borrow more than you can afford to pay back once you are working.
4
“Repay Your Loans,” Federal Student Aid, h ps://studentaid.ed.gov/sa/repay‐loans
5
American Student Assistance, “Managing Default,” h p://www.asa.org/managing‐default/
6
American Student Assistance, “Managing Default,” h p://www.asa.org/managing‐default/

Aying For Igher Ducation: Advanced Level

Uploaded by

Document Information

Original Title

Copyright

Available Formats

Share this document

Share or Embed Document

Sharing Options

Did you find this document useful?

Is this content inappropriate?

Copyright:

Available Formats

Aying For Igher Ducation: Advanced Level

Uploaded by

Copyright:

Available Formats

Page

Possible Scholarships Who Sponsors It Eligibility Amount

Exemplary Satisfactory Unsatisfactory No Score

Paying for Higher Educa on

Diﬀerent Ways to Fund Higher Educa on

1. Money you do not have to repay

2. Low‐Cost Financial Aid Loans used to pay for higher

3. High‐Cost Consumer Loans

You pay 100% of the interest – o en

All About FAFSA!

When do I ﬁll out the FAFSA?

Need‐based aid is ﬁnancial aid that you receive

When it’s not “free money”

You might also like